Ieq Capital LLC Purchases 15,040 Shares of American International Group, Inc. $AIG

Key Points

• Ieq Capital increased its AIG position by 29.6% in the second quarter, purchasing 15,040 additional shares and bringing its holdings to 65,907 shares valued at approximately $4.9 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly EPS of $2.00, beating estimates of $1.92, though revenue of $7.08 billion fell short of the $7.25 billion consensus estimate. Analysts maintain a consensus “Hold” rating with an average price target of $88.28.
• The company declared a quarterly dividend of $0.50 per share, equal to a $2.00 annualized payout and a 2.6% yield. Insider Peter Zaffino separately sold 200,000 shares worth about $15.3 million under a pre-arranged trading plan.

Ieq Capital LLC grew its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,907 shares of the insurance provider's stock after buying an additional 15,040 shares during the quarter. Ieq Capital LLC's holdings in American International Group were worth $4,912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIG. Geneos Wealth Management Inc. increased its position in shares of American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider's stock valued at $434,000 after acquiring an additional 129 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in American International Group by 2.9% during the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider's stock worth $396,000 after acquiring an additional 130 shares during the period. Larson Financial Group LLC boosted its position in American International Group by 12.6% in the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider's stock worth $107,000 after purchasing an additional 140 shares during the last quarter. GW&K Investment Management LLC boosted its position in American International Group by 8.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider's stock worth $164,000 after purchasing an additional 144 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider's stock valued at $831,000 after purchasing an additional 146 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AIG shares. The Goldman Sachs Group raised their target price on American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Morgan Stanley cut their price target on shares of American International Group from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. UBS Group increased their price target on shares of American International Group from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Finally, Citigroup lifted their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $88.28.

American International Group Stock Up 0.2%

AIG opened at $76.30 on Monday. The company has a market cap of $39.90 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $77.69 and a 200 day moving average of $76.98.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period in the prior year, the firm posted $1.81 earnings per share. On average, sell-side analysts expect that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group's payout ratio is presently 36.56%.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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